Bitcoin Whale Drops Over $85M on THORChain for 1,075.6 BTC
A large Bitcoin holder, known as a whale, made two significant transactions on THORChain's cross-chain swap. The first purchase saw 85.42 million USDC used to acquire 1,075.6 BTC at an average cost of $79,412 including fees over four days.
This is the same address that previously sold 50,600 ETH at a $2,921 average in 2025 for a $19 million profit. The whale has now deployed another 14.2 million USDC to buy 179.8 BTC at $78,955 and retains 74.32 million USDC to continue buying.
The Bitcoin price is currently sitting inside the Bollinger Bands on the four-hour chart, testing upper resistance at $78,604. The EMA50 at $78,135 caps upside in the bearish structure above the EMA200 at $74,210. Technical indicators point to a probable retracement toward the lower band support at $76,439 before any sustained move higher.